The 2020 Mid-Year Economic Update_long

New Orders for Durable Goods Flat in October

Advance report: Excluding transportation, new orders increased 1.5 percent.

New orders for manufactured durable goods in October were flat at $216.9 billion, compared to $216.95 billion in September, the U.S. Census Bureau announced in its Advance Report. This followed a 9.2 percent September increase.

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Excluding transportation, new orders increased 1.5 percent. Excluding defense, new orders increased 0.1 percent. Machinery, up two consecutive months, had the largest increase, $900 million or 2.9 percent to $30.9 billion.

Shipments of manufactured durable goods in October, down two of the last three months, decreased $1.2 billion or 0.6 percent to $222.2 billion. This followed a 0.5 percent September increase.

Transportation equipment, also down two of the last three months, had the largest decrease, $800 million or 1.3 percent to $63.5 billion. This followed a 0.7 percent September increase.

Unfilled orders for manufactured durable goods in October, up four of the last five months, increased $2.3 billion or 0.2 percent to $982.5 billion. This increase followed a 0.1 percent September increase.

Inventories of manufactured durable goods, up 33 of the last 34 months, increased $1.6 billion or 0.4 percent to $374.4 billion. This was at the highest level since the series was first published on a NAICS basis in 1992 and followed a 0.2 percent September increase.

Transportation equipment, also up 33 of the last 34 months, had the largest increase in October, $1.2 billion or 1 percent to $113.9 billion. This was also at the highest level since the series was first published on a NAICS basis.

Non-defense new orders for capital goods in October increased $500 million or 0.8 percent to $71.6 billion. Shipments decreased $300 million or 0.5 percent to $69.9 billion. Unfilled orders increased $1.7 billion or 0.3 percent to $583.4 billion. Inventories increased $600 million or 0.4 percent to $173.4 billion.

Defense new orders for capital goods in October decreased $600 million or 7.1 percent to $7.8 billion. Shipments decreased $200 million or 2.4 percent to $8.4 billion. Unfilled orders decreased $600 million or 0.3 percent to $164.9 billion. Inventories decreased slightly or 0.2 percent to $21 billion.

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